Although in-store retail spending jumped significantly this past holiday season over last year, rising a healthy 5.5 percent according to MasterCard, that number was overshadowed by a 15.4 percent increase in online spending. It was the first time that online spending accounted for more than 10 percent of all gift purchases. Even before the holidays, […]
A popular saying in the marketing world is that it costs 10 times as much to acquire a new customer than it does to keep an existing one. Despite that, it seems the majority of marketing campaigns are centered on reaching prospects and converting them into paying customers, rather than maintaining relationships with existing brand […]
A recent study from NY based ICC/Decision Services shows that while retail associates are focusing on their customers, they’re not taking the extra steps needed to close or add to a sale. ICC/Decision Services, which designs and executes customer experience management programs, visited more than 50 retailers across the categories of apparel, department store, electronics, […]
Word of the Chapter 11 filing of video giant, Blockbuster, does not necessarily mean a death knell for all video stores. According to the Christian Science Monitor, small, independent retail stores are surviving nicely by catering to their customers’ needs and filling a specific niche in a specialized market. “Blockbuster employees literally laughed in our […]
A new report reinforces what many savvy retailers already know: social media works as a way of reaching customers. Now you have to implement it.
An analysis from Retail Customer Experience.com has taken a close look at how customers perceive retail outlets, and the findings are surprising. In the study, it’s noted that something as simple as an end-cap with corners can trigger an ancient avoidance-response system within people, whose brain sees sharp corners as a danger, and turn away. […]
Sir Terry Leahy, CEO of Tesco, Britain’s largest supermarket chain, offered ten management lessons, recently at the National Retail Federation’s (NRF) Annual Conference in New York. They are: Find the truth. Don’t just rely on research or past experience. Find out where your company stands now by talking directly to the customer. They will be […]
Service trumps price, even in tough times, say many retail experts. Independent retailers often have an edge in delivering personal service.
When asked which measurement of customer data was the most valuable, the largest group of retailers, 86 percent, cited customer retention in a recent survey.